The Palatka daily news. (Palatka, Fla.) 1884-1888, 1887-06-25
BUSINESS PROSPEROUS.


notwithstanding all the Bursted Corners
Trade Seems Healthy.
New YORK, June 24.-R. G.. Dun &
Co.'S weekly review of trade for the
week ending to-day says:
The withdrawal of funds from New
York to- meet the immediate needs at the
West has caused a temporary stringency
here which spectators have magnified,
but foreign exchange is So near the ship
ping point and the supply of unused
funds abroad is so large that relief would
come quickly if needs here should be-
come serious. Moreover, the large dis
bursements by the Treasury in July are
now close at hand. In the half yearly
settlements, in the struggle to liquidate
tiOns for summer dullness, however,
there may be some pressure for money
during the remaining days of June.
The Treasury has paid out $500, 900
more money than it has taken in, this
week, besides increasing its deposits
with the banks about a million. At
nearly all other points money is reported
HI SOtu Dut Oh
New York is at seventy-five cents dis
count. The demands from st. Louis are
also felt and money is rather close at
Cleveland with exchange scarce and
firm at Milwaukee. The Cincinnati
banks were generally well supplied,
having anticipated trouble, but the ex-
tent of the rottenness in the Fidelity was
not realized and some trouble for its
stockholders under the double liability
law is now apprehended-
STATE OF TRADE ENCOURAGING.
General reports OF business at nearly
all points are highly encouraging. No
trouble from the wheat collapse is re-
ported except at the points already
named and the increasing prospect of
good crops adds to the prevailing conf
dence. Collections are generally fair
or good and the volume of business is
large for the season. Liquidation in
cotton proceeds slowly but prices have
declined &c. for the week with sales of
proposed by the broken firms in coffee.
Wheat has fallen about DC. though a par
tial corner in June still makes quota
tions here Sc. or more above those for
July. Pork products yield little though
still held at Chicago above the level else
where.
In the stock market liquidation has
been the feature, though the declines
have not been large or rapid. Distrust
of parties ana securities thought to be
even remotely connected with the Gin
cinnati speculation is obvious, and there
Is less confidence as to the effects of the
Interstate act. Under all the circum-
stances the strength of the market is a
surprise. especially when it is remem-
bered that the new securities for several
hundred millions have been listed this
year.
The iron market waits the outcome of
the labor contests. The coke strike has
ployers have voted to reject the demand
| for an increase of wages estimated at fif-
teen per cent. Railroad building seems
to have been checked a little but the
present demand for most iron and steel
products seems better. The Iron Asso-
Citations protest to the Treasury against
undervaluations and recent classifica-
tions, under which imports of ircn have
been heavy.
Other labor contests are disappearing.
Chicago bricklayers and Worcester
shoemakers abandon their demands.
Real estate at the West is still unusually
active and though the bloom is off the
boom, SO to speak, no visible reaction in
prices is to be expected at present.
BUSINESS FAILURES.
The business failures occurring
throughout the country during the last
week were: For the United States, III;
Canada, a6. or a total of 197 against 21a
last week and 173 the week previous.
The corresponding week of last year
there were 16a failures, 13S in the
United States and "a in Canada